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gold flat, silver edges higher, wheat rebounds
Gold prices were flat on Monday, as the US dollar and yields firmed after strong jobs data raised the expectation of aggressive rate hikes, offsetting support from safe-haven demand fueled by a worsening Ukraine crisis.
Spot gold was…
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Bitcoin drops; Crypto adoption gains currency in 2021
Bitcoin, the leading cryptocurrency internationally, traded lower on Monday, dropping 0.49 percent to $46,058.95 as of 8:00 a.m. Riyadh time.
Ether, the second most traded cryptocurrency, was priced at $3,493.62, up by 0.43 percent,…
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Gold slides, corn stays afloat, Ukraine’s forex reserves steady
Gold slid on Friday after robust US jobs data drove the dollar higher and bolstered bets that the Federal Reserve would aggressively raise rates.
Spot gold fell 0.8 percent to $1,921.86 per ounce while U.S. gold futures settled down 1.6…
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Bitcoin, Ethereum drop; new crypto heist surfaces
Bitcoin, the leading cryptocurrency internationally, traded lower on Sunday, dropping by 0.59 percent to $46,274.16 as of 8:00 a.m. Riyadh time.
Ether, the second most traded cryptocurrency, was priced at $3,474.34, down by 0.13 percent,…
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Crude falls, climate activists arrested, Mexico suspends gasoline subsidy
Oil settled lower on Friday as members of the IEA agreed to join in the largest-ever U.S. oil reserves release.
Both Brent and U.S. crude benchmarks settled down around 13 percent in their most significant weekly falls in two years after…
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Yamama Cement Co. bags $426m from SNB to boost its new site at Al Kharj
Saudi-based Yamama Cement Co. has received financing of SR1.6 billion ($426 million) from the Saudi National Bank to boost the production capacity of its new site in Northern Halal, Al-Kharj.
The amount includes a long-term financing of…
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Moscow says firms’ foreign-listed depositary receipts will be forced to return to Russia
Russian companies whose depositary receipts are traded abroad will be obliged to return to Russia, unless other solutions arise, Economy Minister Maxim Reshetnikov said on Friday, according to Reuters.
Several major Russian companies…
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Israel and UAE agree ‘milestone’ free trade deal
Israel and the UAE said Friday they had agreed on the terms of a free trade agreement to boost commercial relations following their normalization of ties, AFP is reporting.
Israel described as “historic” the deal abolishing customs…
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Eurozone unemployment at record low; Norway to buy foreign cash
Euro zone unemployment fell to a record low in February as the economy continued to rebound from the COVID-19 pandemic, even as energy prices rose sharply in the build-up to Russia’s invasion of Ukraine.
The EU’s statistics office,…
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Biden to release 1m barrels of oil a day to ease pump prices
President Joe Biden on Thursday will announce the release of 1 million barrels of oil a day for the next six months from the US Strategic Petroleum Reserve to try to bring down gasoline prices, the White House said, according to Reuters.…
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